Speaker of the House Mike Johnson, R-La., surrounded by Republican members of Congress, signs President Donald Trump's signature bill of tax breaks and spending cuts, Thursday, July 3, 2025, at the Capitol in Washington. (AP Photo/Julia Demaree Nikhinson)

Highlights of the Big Beautiful Bill Act

TAX RATES: The existing tax rates and brackets will become permanent under the bill, solidifying the tax cuts approved in Trump’s first term.

NEW DEDUCTIONS: It temporarily will add new tax deductions on tip, overtime and auto loans. There’s also a $6,000 deduction for older adults who earn no more than $75,000 a year, a nod to his pledge to end taxes on Social Security benefits.

CREDITS: It will boost the $2,000 child tax credit to $2,200. Millions of families at lower income levels would not get the full credit.

EV REBATE ENDS: A tax break for people who buy new or used electric vehicles will expire on Sept. 30

THE BORDER: The bill would provide some $350 billion for Trump’s border and national security agenda, including for the U.S.-Mexico border wall and for 100,000 migrant detention beds

ICE: It funds hiring 10,000 new Immigration and Customs Enforcement officers, with $10,000 signing bonuses.

MEDICAID: It implements new 80-hour-a-month work requirements for many adults receiving Medicaid and food stamps.

FAMILY PLANNING: The bill bars for one year any Medicaid payments to family planning providers that provide abortion services, namely Planned Parenthood.